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AI Earnings Diverge, Tech Sells Off, BTC Breaks $80K | WEEX Weekly Recap (10.26-10.30)
WEEX’s weekly recap tracks AI investment, rate expectations, and crypto. The Nasdaq rose for two sessions early in the week, but concerns about inflation, GOOGL’s sharp drop, and weak after-hours reactions to AMZN and INTC pushed volatility higher. BTC briefly fell below $80,000. As of the morning of October 30, the ECI, Chicago PMI, and XOM and CVX earnings were still pending.
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All three major indexes closed lower on October 29, led down by technology and communication services; healthcare and defensive sectors were relatively resilient. Amazon and Intel came under pressure after hours. HYPE continued to rally toward its record high. TRX rose against the broader crypto-market decline. Investors will watch pre-market earnings from AbbVie, Exxon Mobil, Chevron and others on October 30.
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